Top 4 Challenges Businesses are Facing in 2017

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The confetti has settled, the firework embers cooled, and the steam off the small business is beginning to bellow. Things are in full swing for 2017. We hope you’ve had a wild and crazy Christmas and New Year season, or a calm and peaceful one if that’s what suits you better. Either way, we know you’re shaking the ribbon and paper off and you are running full speed ahead. This year holds exciting new rewards, but we all know they are not without their challenges. We want to give you a heads up on 4 challenges we foresee this year as well as solutions to quickly overcome them.

1. Hiring EmployeesHiring Employees

Every successful business depends on great employees. While you, the owner, wear many hats, having an extra head around to share the load not only makes things easier but also helps the business boost performance. That’s assuming you have a competent employee on your hands. Hiring can be a hassle, and let’s face it, you’re never going to find someone as passionate about your company as you are. But, you can find individuals with a strong work ethic, a teachable mindset, and valuable skills. The problem is you have to sort through piles of resumes and spend hours in interviews before you find “the one”. At PayTech, our Human Resources department can help lighten the load for you. We can help you develop a job description, determine the best places to post your ad, screen prospective employees and send you only the top qualified candidates. No more wasting time with boring, unproductive interviews or wasting money training unqualified employees. We’ll make the process simpler and help you find the ideal right-hand-man.

2. Paperwork Protocol

We can’t think of a single person who goes into business because they like handling employee paperwork. The thought “I’ll start a coffee shop so I can spend all of my time helping employees fill out W-2s and insurance docs.” Umm… NO. Spend time doing what you love and let PayTech handle the pesky paperwork. Our Payroll Team works directly with you and your employees to take care of all the paperwork needed to onboard a new employee. We can answer questions regarding W-2s as well as 1099’s (or any other doc for that matter). We can help employees understand their withholding options. We work with you and your employees if salaries change, PTO changes, insurance needs change. We can even handle workmen’s comp paperwork if needed. We’re basically your personal secretary who happens to be highly trained in all things payroll.

3. Payroll Health Care

Now, we could have placed this under the “Paperwork” category above, but healthcare is such a tricky animal that it deserves its own enumeration. It comes as no surprise to sHiring Employeesmall business owners that healthcare costs have skyrocketed in recent years. The requirements, fees, options, and tax credits are exhausting for an already overworked business owner. What’s more, there are already rumors that the 2017 Presidential administration is preparing to change healthcare laws once again. What’s a small business owner to do? Large companies can afford tax professionals to navigate their company through the much and mire, but small businesses are left in the lurch. Or are they? PayTech is your solution to the problem. Our tax team spends countless hours pouring over current laws and preparing our clients for changes as they come down the pipeline. We’ll guide you through the mess of the current healthcare laws so you can provide the best option for your company and employees alike. And, when or if law changes occur, our team will make sure that your business not only complies but adopts the best values and savings for your team.

4. Taxes

With every new presidency comes new tax laws. With the 2017 administration shaping up, tax laws are rumored to take a turn for the better for small businesses.  The question is, how do you take full advantage of all there is to offer. The answer? Hire PayTech. We’re your tax team on standby. Even though you’re not thinking about tax, we are. We ALWAYS are. Our team is constantly studying the new tax laws and determining how our clients can best take advantage of them. As law are published, we review each client’s portfolio to see if there are any tax breaks, savings, or potential fees that may positively affect their company. If we find something, you’re the first to know about it. It’s like having a personal Sherlock Holmes for your taxes.
Taxes, payroll, HR  – all challenging time-consuming tasks that take you away from the real reason you started your business. Don’t let these tasks drag you away from growing sales and improving the bottom line; let us help. We know payroll processing, tax codes, accounting systems, and paperwork protocol better than anyone in the business. Let us join your team this year and together take your business to new heights.


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